Saudi Aramco is fully committed to expanding its production capacity from 12mn b/d to 13mn b/d, but the 1mn b/d increment is unlikely to be complete until the second half of the decade. Speaking on Aramco’s 1H earnings call on 9 August (MEES, 13 August), CEO Amin Nasser labelled the expansion “a great opportunity for us,” as he highlighted the broader shortfall in industry investment.
“We see a large drop in investment when it comes to crude oil supply in the mid- and long-term… we are trying to benefit from the lack of investment by major players in the market by putting investment in this sector,” says Mr Nasser. (CONTINUED - 1100 WORDS)
